– Molson Coors Brewing Company (NYSE: TAP) reported underlying earnings of $1.48 per share for the third quarter of 2019, vs. $1.48 per share expected.
– Total revenues decreased 3.2% annually to $2.84 billion in the September-quarter, vs. $2.87 billion expected
– On a reported basis, Molson reported a net loss of $402.8 million or $1.86 per share, compared to profit of $338.3 million or $1.56 per share last year
– Expects underlying free cash flow of $1.4 billion, plus or minus 10%, for fiscal 2019; sees capital spending of approximately $700 million, plus or minus 10%
– Expects net sales revenue to be flat to low-single digit decrease, on a constant currency basis, in fiscal 2020; expects underlying free cash flow of $1.1 billion, plus or minus 10%, for 2020
– Announced revitalization plan to achieve consistent top-line growth by improving efficiency and unlocking resources to reinvest in the business
— Molson Coors shares dropped early Wednesday, following the earnings report, after closing the previous session higher
Most Popular
Infographic: How Alaska Air Group (ALK) performed in Q1 2024
Alaska Air Group (NYSE: ALK) reported its first quarter 2024 earnings results today. Total operating revenue increased 2% year-over-year to $2.23 billion. Net loss amounted to $132 million, or $1.05 per
KMI Earnings: Kinder Morgan Q1 2024 adjusted profit increases; revenue drops
Kinder Morgan, Inc. (NYSE: KMI) reported higher adjusted earnings for the first quarter of 2024 despite a decrease in revenues. The energy infrastructure company also issued guidance for the full
What to expect when Altria (MO) reports first quarter 2024 earnings results
Shares of Altria Group, Inc. (NYSE: MO) stayed green on Wednesday. The stock has dropped 8% over the past one month. The tobacco giant is scheduled to report its first